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    Fernandez Erica ACT224 Act5

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    Erica Ann Fernandez
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    Fernandez Erica ACT224 Act5

    Uploaded by

    Erica Ann Fernandez
    0 views1 page
    informational

    Original Title

    Fernandez_Erica_ACT224_Act5

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    informational

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    Download as docx, pdf, or txt
    0 views1 page

    Fernandez Erica ACT224 Act5

    Uploaded by

    Erica Ann Fernandez
    informational

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    The removal or lowering of constraints or barriers to the free flow of products between

    nations is referred to as trade liberalization. Tariff barriers, such as levies and surcharges, and
    nontariff barriers, such as licensing restrictions and quotas, are examples of these barriers. Trade
    liberalization encourages free exchange by allowing nations to trade products without regulatory
    obstacles or the expenses associated with them. Reduced regulation lowers expenses for
    countries that trade with other countries, which may eventually result in lower consumer prices
    because imports are subject to lower levies and competition is expected to rise. While,
    government measures that restrict international trade in order to support domestic sectors are
    referred to as Protectionist Policy. However, they can also be introduced due to safety or quality
    concerns. Protectionist policies are typically designed to increase economic activity inside a
    home economy. Protectionist policies are primarily aimed at reducing imports, but they may also
    affect other elements of international commerce, such as product standards and government
    subsidies. The advantages of protectionism are hotly debated. Economic globalization has been
    influenced in the context of the COVID-19 pandemic outbreak and the economic crisis. To
    maximize their own earnings in the near run, nations should adopt trade protectionist measures.
    Trade protectionism should be implemented in the short term to stimulate economic growth and
    protect employment in order to recover in the global economy, given the still-uncertain nature of
    many aspects of the global economy as well as the decline in countries' capacities for production
    and consumption during the epidemic situation. The government, particularly in the Philippines,
    should preserve company profits and stimulate product upgrading. For an instance, once
    the "carbon tariff" is implemented, it will have an impact on Philippines exports. The Philippines
    should take action as quickly as possible to deal with the new international trade protectionism
    and develop a harmonious economic and commercial relationship. Trade protection and trade
    liberalization have historical characteristics, and the parallel development of trade liberalization
    and trade protection will become the norm for international trade development. It is necessary
    and important to sustainably promote economic globalization and world trade. Import and export
    of services is an important factor influencing Philippines' economic growth. Philippines can also
    take a number of measures to reduce unequal income distribution from a trade perspective and
    tailor trade policies targeted to specific industries to cope with the impacts. negative effects from
    the outbreak of the trade war and the epidemic in order to achieve stable jobs.

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